A leading provider of human phishing defense solutions, PhishMe, has revealed that as of February 26, 2018, the firm will be known as Cofense. Along with the name alteration, the firm has revealed it has been acquired by a private equity syndicate, which estimate the worth of the firm as $400 million.
PhishMe was established in 2007 with the aim of developing products and services to address the increasing threat from phishing. Staff have long been viewed as the greatest danger to security, yet the human element of security defenses was often disregarded. Over time, PhishMe developed its products and services to assist companies enhance their last line of defense and turn security weaknesses into security assets.
PhishMe has aided thousands of groups enhance their defenses against phishing through training and phishing simulations. The firm has also developed a variety of associated products and services including a reporting platform that has now been implemented by over 2 million users, as well as incident response and threat intelligence facility.
While phishing defense is still at company focuse, the name change reflects the more wide ranging type of products and services now being provided and future plans for expansion of its enterprise-wide attack detection, response, and orchestration solutions.
The acquisition will be a bonus in relation to that. With the support of the private equity syndicate, the company’s finances have been protected and the firm is planning to grow and enhance its products and services and increase its global reach.
Cofense co-founder and CEO Rohyt Belani explained: “This acquisition further strengthens the alignment between our management team, employees, and investors as we focus on building an enduring company. With cybersecurity a top priority for organizations everywhere, our goal is to continue bringing innovative products to markets around the globe to help stop active attacks faster than ever.”